Highlights

  • The updated CPR includes extraction rights for 'Lot 5' and now covers Lots 5 to 8.
  • Inferred Resource at Yammacoona Sand Quarry increased to 208.09 million tonnes.
  • Financial model estimates NPV of AUD 3.312 bn over 25 years at 15% discount rate.

Atlas Metals Group plc (LSE:AMG), a natural resources and energy company, has published an updated Competent Person's Report (CPR) for the proposed acquisition of Universal Pozzolanic Silica Alumina Ltd (UPSA). The report follows prior announcements made on 17 June 2025 and 10 September 2025 regarding the acquisition.

The CPR, prepared by SLR Consulting Australia Pty Ltd, evaluates the Yammacoona Sand Quarry in New South Wales, Australia. UPSA holds commercialisation rights to the pozzolanic silica alumina (PSA) sand resource at the quarry for a 99-year period from June 2023, acquired from Claystone International Pty Ltd. The resource is intended to be marketed internationally.

Resource Expansion and Modelling

The updated CPR now includes extraction rights for 'Lot 5', obtained by UPSA on 24 November 2025, and covers Lots 5 to 8 of the quarry. Documentation from the study area was used to develop a desktop model estimating volumes of soil, sand, and pozzolanic sandstone.

The report estimates an increase in the Inferred Resource to a total of 208.09 million tonnes, including 41.72 million tonnes of sand and 166.37 million tonnes of pozzolanic sandstone, representing growth compared to the previous CPR.

Financial Assessment

A financial model has been developed to assess the viability of quarry operations. Using the discounted cash flow method over 25 years, including terminal value at year 25, the Net Present Value (NPV) at a 15% discount rate is AUD 3.312 bn, approximately GBP 1.63 bn. Full assumptions used in the NPV calculation are detailed in the CPR.

Ongoing Work and Next Steps

SLR Consulting Australia Pty Ltd is conducting core drilling and analysis to further update the CPR and explore the potential to upgrade resources from the current Inferred category.

Share Price Snapshot
AMG was trading 10.71% higher at GBX 31.00 per share as of 28 November 2025.